Palomino director Ogawa reports 6.9% ownership
Rhea-AI Filing Summary
Palomino Laboratories Inc. (symbol PALX) discloses updated beneficial ownership information for director and Secretary Richard Ogawa in this amended Schedule 13D. Ogawa now beneficially owns 1,882,500 shares of Palomino common stock, representing 6.9% of the class, including 125,000 shares issuable upon exercise of a warrant.
The amendment reflects a prior Share Exchange Agreement and Plan of Reorganization under which stockholders of Vega Links, Inc. exchanged 11,180,000 VLI shares for 4,472,000 Palomino shares; Ogawa received 120,000 Palomino shares in exchange for 300,000 VLI shares. The consideration shares are subject to a vesting schedule under his existing stock purchase agreement, and he reports no other Palomino share transactions in the past 60 days.
Positive
- None.
Negative
- None.
Filing Explained
The amendment says Richard Ogawa, Palomino’s secretary and a director, has no present plans or proposals for the listed corporate actions beyond the share exchange, while reserving the right to develop them or take those actions; it discloses potential influence, not a stated new plan.
Key Figures
Key Terms
beneficially owns financial
vesting financial
warrant financial
FAQ
What percentage of Palomino Laboratories Inc. (PALX) does Richard Ogawa currently beneficially own?
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